Giuliani proposes catastrophe fund

Rudy Giuliani, resting his presidential hopes on Florida, launched a new TV ad today in the hurricane-prone state that proposes a new disaster fund.

"He's the only candidate who'll fight for a national catastrophe fund to reduce insurance rates," the announcer says. Giuliani is holding a news conference today in Gulf Breeze, Fla., with Joe Albaugh, former director of the Federal Emergency Management Agency, to discuss the proposal.

The narrator also says that Giuliani can fix problems with "Taxes. Insurance. Housing. All a mess" because of his record on delivering welfare reform and tax relief as New York's mayor.

The ad also highlights Giuliani's proposals to eliminate wasteful spending and offer the biggest tax cut in the nation's modern history.